Akero Therapeutics (NASDAQ:AKRO) Receives New Coverage from Analysts at Bank of America

Research analysts at Bank of America initiated coverage on shares of Akero Therapeutics (NASDAQ:AKROGet Free Report) in a report released on Monday, Marketbeat reports. The brokerage set a “neutral” rating and a $30.00 price target on the stock. Bank of America‘s price objective would suggest a potential upside of 44.51% from the stock’s previous close.

AKRO has been the topic of a number of other reports. HC Wainwright increased their price target on Akero Therapeutics from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. UBS Group raised their target price on Akero Therapeutics from $39.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Akero Therapeutics has an average rating of “Moderate Buy” and an average target price of $37.71.

View Our Latest Research Report on AKRO

Akero Therapeutics Trading Up 1.2 %

AKRO opened at $20.76 on Monday. Akero Therapeutics has a 52-week low of $11.25 and a 52-week high of $58.38. The company has a current ratio of 29.27, a quick ratio of 29.27 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average of $24.77 and a 200-day moving average of $21.37.

Akero Therapeutics (NASDAQ:AKROGet Free Report) last released its earnings results on Thursday, February 29th. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.17). Equities analysts forecast that Akero Therapeutics will post -4.06 earnings per share for the current fiscal year.

Insider Activity

In other Akero Therapeutics news, insider Catriona Yale sold 20,646 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $35.49, for a total value of $732,726.54. Following the transaction, the insider now directly owns 78,415 shares of the company’s stock, valued at $2,782,948.35. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Andrew Cheng sold 75,000 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $32.87, for a total transaction of $2,465,250.00. Following the completion of the sale, the chief executive officer now owns 591,416 shares of the company’s stock, valued at $19,439,843.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Catriona Yale sold 20,646 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $35.49, for a total transaction of $732,726.54. Following the completion of the transaction, the insider now directly owns 78,415 shares of the company’s stock, valued at $2,782,948.35. The disclosure for this sale can be found here. Insiders have sold 100,646 shares of company stock valued at $3,319,877 over the last 90 days. 9.69% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Alkeon Capital Management LLC grew its position in Akero Therapeutics by 8.7% in the third quarter. Alkeon Capital Management LLC now owns 3,767,380 shares of the company’s stock valued at $190,554,000 after purchasing an additional 300,000 shares in the last quarter. RTW Investments LP bought a new position in shares of Akero Therapeutics in the 4th quarter valued at about $83,891,000. BlackRock Inc. increased its position in shares of Akero Therapeutics by 19.3% in the second quarter. BlackRock Inc. now owns 3,321,153 shares of the company’s stock valued at $155,065,000 after acquiring an additional 537,776 shares during the last quarter. Vanguard Group Inc. raised its holdings in Akero Therapeutics by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 3,085,048 shares of the company’s stock worth $72,036,000 after acquiring an additional 72,866 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in Akero Therapeutics by 247.7% during the fourth quarter. Wellington Management Group LLP now owns 2,881,989 shares of the company’s stock worth $67,294,000 after acquiring an additional 2,053,028 shares in the last quarter.

About Akero Therapeutics

(Get Free Report)

Akero Therapeutics, Inc, together with its subsidiary, engages in the development of treatments for patients with serious metabolic diseases in the United States. The company's lead product candidate is efruxifermin (EFX), which is in Phase 3 clinical trials that protects against cellular stress and regulates the metabolism of lipids, carbohydrates, and proteins throughout the body for the treatment of biopsy-confirmed metabolic dysfunction-associated steatohepatitis (MASH) patients.

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